End of tether.

ksjohnson

Hi

I've posted on here a couple of times since we've been trying to buy the same house since October, and am now at breaking point.

Previous issues causing the delay (other property) are no longer relevant.

Bottom line is we got out DIP based my employer loaning us the deposit. We went via L&C. Natwest are the lenders. All progressing with the usual bs of requesting documents multiple times and losing them etc. However now the underwriter has rejected the offer (despite the fact L&C had confirmed 2 weeks earlier it was accepted and we were just waiting for the valuation) based on my employer loaning the deposit.

Case advisor broke the news to me this afternoon and said she was trying to get hold of the BDM as she accepted the DIP based on this.

I know you know no other details but you brokers out there, how likely are we to be let down here? How often do underwriters reject an offer only for the BDM to then approve?

Myself and my wife are in deep emotionally in this house, but are beginning to think we should walk away for our own sanity...

Thrugelmir

Underwriters are the ones who are empowered to make the final decision on behalf of the lender. Until such time as a written mortgage offer is made then you don't have one.

minimike2

Who did your broker speak to in order to have it agreed that a loan would be OK for your deposit? A DIP is run through there system - which assumes all it's lending rules are applied. The system is unable to determine the source of your deposit and is done on the basis you meet the criteria.

Natwest do not accept loaned deposits last time I checked (as with most lenders), so it would have been a no-go from the start. That's not the kind of thing lenders will usually make any kind of special case on....